Gold Fields Expects Lower 2017 Earnings

02/08/18 08:24 AM EST

By Maryam Cockar

 

Gold Fields Ltd. (GFI.JO) said Thursday that it expects headline earnings for 2017 to drop by as much as 12% on year, citing an increase in amortization.

The South African miner forecasts 2017 headline earnings per share at between $0.23 and $0.26, compared with the $0.26 a share reported in 2016, it said.

Basic loss per share for 2017 is expected to be between $0.22 and $0.25, compared with earnings of $0.20 a share a year earlier.

Gold Fields said that normalized earnings are expected to be 21% to 33% lower than the $0.24 a share reported in 2016, giving a range of between $0.16 and $0.19 a share for 2017.

At 1251 GMT, shares were down 2.58 South African rand ($0.22) at 47.19 rand.

 

Write to Maryam Cockar at maryam.cockar@dowjones.com

 

(END) Dow Jones Newswires

February 08, 2018 08:24 ET (13:24 GMT)

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